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Qs Confined!


The BIG picture of the Q's shows that all this week the price structure has remained confined within a range between 41.70 and 41.00. Looked at from within a larger context, the sideways 4 day range can be viewed as a consolidation near the bottom of the down-leg from the 1/11 high at 43.31. If it does not represent a "bottom," then it is a "middle," with another downleg to follow. We shall find out soon... A rally that hurdles and sustains above 41.70/75 will trigger the "bottom" scenario, while a decline that breaks 41.00 will trigger the "downleg" scenario. MJP 01/26/06 2:55 PM ET (41.51)

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